Ally Invest to End Trading Commissions, Joining Larger Rivals
(Bloomberg) — Online brokerage Ally Invest is eliminating commissions on U.S.-listed stocks, ETFs and options trades, joining larger rivals in making the move this week.
The move shows the intensifying competition to lure retail investors who gravitate toward the cheapest offerings. Charles Schwab Corp., TD Ameritrade Holding Corp. and E*Trade Financial Corp. each slashed trading fees this week to zero.
Ally Invest is a unit of Ally Financial Inc., an online investment firm with assets of $180.4 billion as of June 30.